Settings8H · net · $10k
Funding arb · Price arb /

BTC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 07:00 UTC+0.0057%/8h= +6.2% APRpaid last 24h +0.021%
Price spread now: BloFin against Hotstuff−0.062%7-day average · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)no history yet
Price spread, last 7 daysno price history on both exchanges yet
Together, before fees+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
Funding pays, the price is against you. BloFin is 0.062% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.062% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 3.6 days of funding at the current rate (+$2 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff BTC-PERP85,437−0.0080get 0.0010% / 1h55m 54s$8K$3K50x
ShortBloFin BTC-USDT85,384.4−0.0023pay 0.0023% / 8h1h 55m$420.4M$683.7M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against Hotstuff. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$11.93
Price spread: −0.062% → 0.000%
−$6.16
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee BloFin: 6 bp × 2 orders
−$12
Net
−$11.23
Costs to cover
0.170%
Break-even
13.6 days
Slippage unknown: Hotstuff: no order-book sample; BloFin: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hotstuff no order-book sample
Sell BloFin live order book, 3 min ago0.01 bp6.0 bp −$66.0 bp −$606.6 bp −$6618.5 bp −$4,240
Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0111%1h85,444+0.008%$2.1M$10.4M40xas long as short
Hotstuff BTC-PERPlong−0.0080%1h85,437long leg$8K$3K50x
KuCoin XBTUSDTM−0.0049%8h85,347.3−0.105%$927.0M$772.1M125xas long as short
BloFin BTC-USDTshort−0.0023%8h85,384.4−0.062%$420.4M$683.7M150x
Aster BTCUSDT−0.0008%8h85,345.7−0.107%$513.2M$1.09B200xas long as short
dYdX BTC-USD0.0000%1h85,390−0.055%$16.7M$21.5M50xas long as short
01 Exchange BTCUSD0.0000%1h85,380.2−0.066%$353K$2.4M50xas long as short
Perpl BTC0.0000%43m85,378.1−0.069%$529K$18.3M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,368.6−0.080%$36.5M200xas long as short
Nado BTC-PERP+0.0038%1h85,366.6−0.082%$24.5M$222.7M50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BTC/USDC PERP+0.0057%1h85,405−0.037%$339K$26.8M52xas long as short
BingX BTC-USDC+0.0070%8h85,336−0.118%$17.5Mas long as short
Bitget BTCUSDT+0.0087%8h85,350−0.102%$2.95B$5.18B150xas long as short
Phemex BTCUSDT+0.0088%8h85,361.2−0.089%$149.4M$508.1M150xas long as short
Kraken Futures PF_XBTUSD+0.0089%1h85,362.9−0.087%$187.8M$955.7M100xas long as short
Lighter BTC+0.0096%1h85,366.6−0.082%$170.6M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h85,367.2−0.082%$23.6M$147.1M50xas long as short
Popdex BTCUSDT+0.0096%1h85,368−0.081%$8.3M$56.0M100xas long as short
MEXC BTC_USDT+0.0096%8h85,354.8−0.096%$5.02B$5.72B500xas long as short
Aevo BTC-PERP+0.0096%1h85,348.9−0.103%$2.4M$6.7M20xas long as short
Deribit BTC-PERPETUAL+0.0097%1h85,394.6−0.050%$866.8M$1.63B50xas long as short
Binance BTCUSDT+0.0097%8h85,354.6−0.096%$9.43B$24.99B150xas long as short
Katana Perps BTC-USD+0.0100%8h85,342−0.111%$238K$8.6M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,425−0.014%$5.8M$9.6M50xas long as short
Hyperliquid BTC+0.0100%1h85,441+0.005%$3.75B$5.09B40xas long as short
Pacifica BTC+0.0100%1h85,403.9−0.039%$40.1M$602.1M50xas long as short
Bybit BTCUSDT+0.0100%8h85,352.1−0.099%$5.14B$9.99B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,360−0.090%$2.59B$12.25B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,361−0.089%$3.8M$17.3M25xas long as short
Arcus BTC-USD+0.0100%1h85,379.8−0.067%$4.6M$98.8M40xas long as short
Gate BTC_USDT+0.0100%8h85,360.9−0.089%$5.51B$10.95B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,343.3−0.110%$36.8M$179.8M75xas long as short
Variational Omni BTC+0.0100%8h85,449.7+0.015%$155.0M$560.8Mas long as short
edgeX BTCUSDC+0.0100%4h85,371.2−0.077%$279.6M$950.1M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,473.2+0.042%$214.6M$167.4M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h85,469.9+0.039%$139.7M$314.3M100xas long as short
StandX BTC-USD+0.0100%1h85,420.3−0.020%$30.1M$206.7M40xas long as short
Vest BTC-PERP+0.0100%1h85,436.90.000%$10.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,362−0.088%$11.0M$14.6M50xas long as short
Bullet BTC-USD+0.0100%1h85,361.9−0.088%$204K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,360.6−0.089%$2.6M$9.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,396.4−0.048%$194K$795K40xas long as short
Derive BTC-PERP+0.0100%1h85,335.3−0.119%$30.0M$48.0M15xas long as short
SunX BTC-USDT+0.0100%8h85,368.5−0.080%$2.9M$6.1M100xas long as short
SoDEX BTC-USD+0.0100%1h85,351−0.101%$59.7M$336.8M40xas long as short
HTX BTC-USDT+0.0100%8h85,366.5−0.083%$2.26B$960.3M200xas long as short
Bulk BTC-USD+0.0100%1h85,476.9+0.047%$684.3M$499.2M40xas long as short
Extended BTC-USD+0.0104%1h85,330.7−0.124%$44.5M$240.6M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h85,388.3−0.057%$106.9M500xas long as short
Coinbase International BTC-PERP-INTX+0.0104%1h85,392.5−0.052%$117.0M$5.46B50xas long as short
Reya BTCRUSDPERP+0.0122%1h85,352.7−0.099%$6.6M$147.6M40xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0175% / S −0.0152%1h85,369.1−0.079%$13.0M200xas long as short
RISEx BTC/USDC+0.0193%1h85,392.5−0.052%$8.8M$43.2M25xas long as short
Kalshi KXBTCPERP+0.0204%8h85,394−0.050%$11.5M$743.3M6.4xas long as short
Aftermath Perps BTCUSD+0.0238%1h85,444.1+0.008%$79K$229K20xas long as short
Hibachi BTC/USDT-P+0.0240%1h85,420.3−0.020%$690K$8.0M30xas long as short